The initial public offering (IPO) of Quadrant Future Tech was listed in the stock market on Tuesday and its shares performed well. The company’s shares were listed at Rs 374 on BSE with a 29% premium, while on NSE it was listed at Rs 370, up 28%.
Immediately after the listing, there was strong buying in the shares, due to which the price increased by 4% to Rs 388.
Subscription details of Quadrant Future Tech IPO
Quadrant Future Tech IPO was open for subscription from January 7 to 9 and received an overwhelming response from investors.
- Total Subscription: The public issue was subscribed 186.66 times.
- Segment-wise Subscription:
- Non-institutional investors (NII): 254.16 times.
- Retail investors (RII): 243.12 times.
- Qualified Institutional Buyers (QIB): 132.54 times.
A total of 57,99,999 shares were offered in the IPO, against which bids were received for 1,07,77,29,300 shares.
Funds raised from anchor investors
The company had already raised Rs 130 crore from anchor investors.
- Price band: Rs 275-290 per share.
- IPO size: Rs 290 crore The issue was entirely based on new shares and did not include an offer for sale (OFS).
- Use of funds: The funds raised from the fresh issue will be used to meet long-term working capital requirements and support the expansion plans of the company.
Listing of company shares
Shares of Quadrant Future Tech were listed on BSE and NSE.
- Listing on BSE: Rs 374 (29% premium).
- Listing on NSE: Rs 370 (28% premium).
- Post-listing performance: The stock gained 4%, taking it to Rs 388.
